Sean Philip Cotter: Healey pushes insurance regulators to cut auto rates amid coronavirus pandemic - Insurance News | InsuranceNewsNet

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April 14, 2020 Newswires
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Sean Philip Cotter: Healey pushes insurance regulators to cut auto rates amid coronavirus pandemic

Boston Herald (MA)

Apr. 14--Attorney General Maura Healey is asking the state to make auto insurance companies cut rates during the coronavirus crisis, when travel has dropped significantly.

"There is already data showing a large decrease in travel in Massachusetts," Glenn Kaplan, chief of Healey's Insurance & Financial Services Division, wrote in a letter Monday, saying that recent data has shown that people are traveling 50% to 55% less.

The letter is to Commissioner Gary Anderson of the Massachusetts' Division of Insurance, which regulates the providers.

"People all across the state are staying home to reduce the spread of COVID-19," Healey said in a statement. "As a result, there are fewer drivers on the road, fewer car accidents, and lower risk involved, so people should be paying less. At a time when many are struggling financially, we should do everything we can to cut costs for families."

California has made these changes already for insurers in that state, ordering companies Monday to begin issuing rebates to custormers.

Several insurers have taken steps on their own to give rebates or credits for the coming months. The AG's office says it will "encourage" others to do the same.

Insurers have cited the huge decreases of travel during the coronavirus pandemic, saying travel, crashes and claims are all down.

___

(c)2020 the Boston Herald

Visit the Boston Herald at www.bostonherald.com

Distributed by Tribune Content Agency, LLC.

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